U.S. Blockchain company The Future of Mining launches data centre and business accelerator

Miami based The Future of Mining – a company jointly owned by blockchain industry companies NGPS and NIDC– is mainly known for their hi-tech solutions within blockchain based payment services as well as for their crypto currency mining operations. As of today, The Future of Mining mother company employs data center services run from the U.S. – but with limited energy access and scalability options, the company has chosen to scale and locate new operations in the north of Sweden.

CEO Gianfranco Castillo explains further:

“We are looking to scale fast in terms of both size and technology development. This strategic choice allows us easy access to everything from energy to innovative partners and European downstream customers. This allows us to keep to our ambitious growth trajectory without hassle and bottlenecks"

With a two pronged strategy of partly securing scalability of current mining operations, but also to offer HPC-based services to European clients, the company is looking not only to grow the actual data center operations – but also to develop a dedicated business accelerator within their own facilities. The deal is outset together with the local municipality, which is also taking a stake in the business accelerator operations.

“The well-known Swedish triple helix tradition, with united action between academia, industry and society, is right on track to secure growth in this new emerging industry. Today we’re quite happy and proud to take this next step together with The Future of Mining, commented Municipality Mayor Helena ?hlund during today’s signing.

The actual data center site will be located within a brownfield site that once housed the National Telecoms Administration. A site already connected to two of the three fiber grids running through the area, adjacent to an 80 MW substation run by Vattenfall, the largest power utility company in the Nordics. The site features redundant power capacity with upgrade plans for the future.

High Performance Computing (HPC) is an area within data center computing seeing rapid market growth and where the data center essentially serves as a “super computer in the cloud” for users, rather than merely as a storage facility. The HPC industry is particularly energy dependent and in need of resilience as well as scalability.